Best Time to Buy a Home

Market conditions play a huge part in any decision about when to buy a home. And if you have been thinking of buying a home, this is the time. Prices are low and mortgage rates are low.

When do you know you're ready to buy a home?

. You have a steady source of income. You've been employed on a regular basis for the last 2-3 years and your current income is reliable.

. You have a good record of paying your bills.

. You have money saved for down payment.

. You have ability to pay a mortgage every month, plus additional costs (taxes, insurance, etc.)

What to do first?

Here are some of the few things to do before you start looking for a house.

. Talk to a mortgage broker to get loan pre-approved.

. Talk to a real estate agent - a good agent can recommend reputable brokers and help you make sense of the terms of the loan.

. Review your credit report and scores with mortgage broker to determine if any repairs are needed.

. Select a community that will allow you to best live your daily life.

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that's an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial.

If you need more information, please call Oscar Bautista at 415-370-7703 or Lina at 415-420-5352.